InsideArbitrage Potential Deal Alert: MariaDB (MRDB) approached by Runa Capital II

POTENTIAL DEAL DETAILS

Runa Capital II announces that it made, on 14 September 2023, an all cash proposal to the Board of MariaDB (MRDB) to acquire, together with Runa’s investment affiliates, 100% of the issued share capital of the company not already owned by Runa, at a price of $0.56 per share.

Runa Capital Fund II, L.P. 

MariaDB Investor Relations

Update(s):

September 18, 2023: The Board of MariaDB plc (MRDB) confirmed that it has received an unsolicited non-binding indicative proposal from Runa Capital II. The Board of MariaDB announced it is reviewing and taking advice regarding the Possible Offer.

March 26, 2024: Progress Software Corp. (PRGS), provider of infrastructure software, confirms that it is considering a possible offer for all the issued and to be issued share capital of MariaDB at a value of $0.60 per share.

The terms of the Possible Offer represent:

1. a 9% premium to the possible offer of $0.55 per share made by K1 Capital, announced on February 16, 2024;
2. an 88% premium to MariaDB’s average closing share price of the last 30 trading days; and
3. a 216% premium to MariaDB’s closing share price on February 5, 2024, the last full trading day prior to the announcement by MariaDB of a potential forbearance agreement with RP Ventures LLC and Hale Capital Partners.

March 28, 2024: The Board of MariaDB plc (MRDB) confirms that on March 26, 2024, it received an unsolicited non-binding indicative proposal from Progress Software Corp. to acquire the entire issued and to be issued share capital of the company.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.